Atlanta Real Estate For Sale Or Rent Archives

Last updated by Thom Abbott at June 15, 2018.

How’s The Atlanta Real Estate Market?

June 15, 2018 by Thom Abbott Leave a Comment

How’s The Atlanta Real Estate Market?

I wanted to share some information regarding the Atlanta real estate market from the recent Case-Shiller Real Estate Report.

The entry-level market has strong demand and very low inventory. There are many multiple offers and values rose faster than other segments.
The luxury market is a buyer’s market with buyers negotiating better pricing and terms.

Mortgage rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.

May pending contracts were up .6% from April and up 8.6% from the prior year. May closings were up 11.7% from April and down 1.3% from the prior year.
Year-to-date pending sales units were up 6.5% versus the prior year. Year-to-date closings were up 2.8% versus the prior year.

The Average Sales Price for May was $322,000 – up 3.2% from April and up 6.6% from last year. 2018 is on track to be the highest annual ASP on record.

Inventory for May was up 5.3% from April and down 8.8% from last year.

Overall Months of Supply for May was 2.4 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 10 months and properties over $2 million averaging 16 months to close. The luxury market remains a buyer’s market in many areas.

The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.

The latest Case-Shiller Index for Atlanta (5/29/18) was up .8% compared to the previous month. Metro Atlanta home values are up 73% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.

I always, repeat, ALWAYS tell my clients, whether you are a Buyer or a Seller, that the real estate market will be different for you depending on your real estate plan. Are you looking to refinance? Are you looking to purchase an investment property? We look at your specific real estate needs and goals, and then we talk about the market and what will work best for you. This, coupled with a great lender from our Team Lenders, and we will all work together to make your real estate experience a great one!

Let’s sit down over coffee (or an adult beverage) and talk about location, location, location…and how important that is in real estate.

Thom Abbott

I'm a real estate broker living and selling the City lifestyle of Intown Atlanta Communities. From the high rise condominiums of Midtown and Buckhead to the bungalows and traditional homes of Chamblee, Brookhaven and Doraville, I enjoy introducing people to parts of Atlanta and everything they have to offer. I'll help you find the right home in any of these or other exciting Intown Atlanta communities that border Midtown Atlanta and The Gold Line!!

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It’s Tax Season ..Use Your Refund to Jump Start Your Down Payment Savings!

March 6, 2018 by Thom Abbott Leave a Comment

According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.

It’s Tax Season Jump Start Your Down Payment

Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals; for anyone looking to buy a home in 2018, this can be a great jump start toward a down payment!

The map below shows the average tax refund Americans received last year by state. (The refunds received for the 2017 tax year should continue to reflect these numbers as the new tax code will go into effect for 2018 tax filings.)

(Georgia’s average is $2,767!)

Many first-time buyers believe that a 20% down payment is required to qualify for a mortgage. Programs from the Federal Housing Authority, Freddie Mac, andFannie Mae all allow for down payments as low as 3%, with Veterans Affairs Loansallowing many veterans to purchase a home with 0% down.

If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?

The map below shows what percentage of a 3% down payment is covered by the average tax refund by taking into account the median price of homes sold by state.

The darker the blue, the closer your tax refund gets you to homeownership! For those in Alabama looking to purchase their first homes, their tax refund could potentially get them 69% closer to that dream! Georgia…you are half-way there!!!

Bottom Line – – It’s Tax Season Jump Start Your Down Payment

Saving for a down payment can seem like a daunting task. But the more you know about what’s required, the more prepared you can be to make the best decision for you and your family! This tax season, your refund could be your key to homeownership!

You can learn more about other steps you need to take in buying a home or condo with our Atlanta Real Estate Buyers Guide.

Have other questions about down payments and buying your home? Contact us!

Thom Abbott

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Featured Listing 860 Peachtree Street NE # 1506 Atlanta GA 30308

January 27, 2018 by Thom Abbott Leave a Comment

Featured Listing 860 Peachtree Street, #1506 Atlanta, GA 30308 (MLS# 5955966)

Spire Midtown has long been a favorite of Midtown Atlanta condo buyers. This building was built in 2005, and quickly sold out since there was limited options available at the time for condo buyers. The building still shines, and here is an excellent opportunity for you to call Spire Midtown HOME!

This one bedroom home features fresh paint throughout along with hardwood flooring in all rooms. (Tile in the bathroom of course!) The spacious kitchen is sure to be the start of the gathering as your guests grab a beverage before heading out to the balcony to take in the Midtown and Downtown Atlanta views! Finished with rich wood cabinetry and granite, there is ample storage and counter space. Stainless appliances including the refrigerator remain!

Often times, condo living space does not afford room for a dining room table, but Number 1506 will give you space for a table, along with the breakfast bar. There is also a convenient desk nook off the kitchen where additional storage space could be added above.

Washer and Dryer remain and the condo has a new hot water heater installed. Also a new custom toilet in the bath.

Spire Midtown features a great fitness center, club room with pool table, fireplace and movie theater as well as a pool. Step out the lobby front door, and you will find Starbucks Reserve just across the street, and restaurants in walking distance, no matter the direction you head!

Nearby Piedmont Park hosts numerous festivals throughout the year, and of course you are walking distance from the High Museum and Fox Theater!

To schedule a private showing of this home, contact me! I’m always just a call or click away!

860 Peachtree Street, NE, #1506 Atlanta, GA 30308 (MLS#5955966)

$269,900.00

Interested in this home? Do you want to schedule a showing?

Just CLICK HERE TO CALL ME!

Listing provided by Palmer House Properties

Learn MORE about Living In Midtown Atlanta HERE!

Thom Abbott

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New Boutique Condo Building Proposed on 12th Street

January 19, 2018 by Thom Abbott Leave a Comment

It appears 208th 12th Street in Midtown Atlanta may soon be home to a new condominium development.

What’s Happening Now reports that plans were filed with the City of Atlanta on Wednesday, January 17, 2018. The project remains nameless at this point. A review of the Midtown Alliance DRC meetings back to mid-Sugust, 2016 make no mention of the project, but we would think it had gone through the Committee.

It appears that 208 12th Street will be a boutique building with just 13 homes (expect “boutique to equal pricey!) but will have a small coffee shop/wine bar on the first floor. That would be pretty cool!

12th Street is no stranger to development. On the map below, the blue/white arrow indicates the location of the under-construction Vireo Apartments, a 308-unit building by Lennar; the other arrow indicates the location of the completed Yoo on the Park . Additionally, you have Piedmont House, and Azure on the Park on the same street.

We’ll be keeping an eye out for the construction crane…again…on 12th Street!

Thom Abbott

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North American Properties Mark Toro

January 17, 2018 by Thom Abbott Leave a Comment

Atlanta certainly has numerous “movers and shakers” when it comes to real estate development. My good friend Scott Selig, who recently passed, is one of them. Steve Baile, also with Selig Enterprises is another. But one individual that I have always been impressed with is Mark Toro from North American Properties.

If you’ve not seen Avalon in Alpharetta….hope in the car and go. A development that barely got started, and then the market crashed. North American Properties came in and it’s amazing what is there now.

Come a little bit closer to “home” and North American Properties successfully repositioned Atlantic Station, and has since sold the retail development to another group. Now, Mark and his team are working to transform Colony Square into the next great Midtown place to be!

Atlanta Magazine, in 2015, named Mark Toro as one of the “55 Most Influential Atlantans.”

Additionally, North American Properties has been tapped to develop a mixed-used project around the Infinite Energy Center in Gwinnett County, some 30 miles from Midtown Atlanta. This is a unique public/private project, being built on land Gwinnett County owns. (The parking lots around the Arena will become garages and mixed-use buildings!

Mark is a Midtown Atlanta resident, and serves on the Midtown Alliance’s Executive Committee.

Bisnow, a business publication recently published an interview with Mark Toro, which you can find HERE.

Thanks Mark, for all that you have done, and are doing for Midtown Atlanta and beyond!

Thom Abbott

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How’s The Atlanta Real Estate Market?

How’s The Atlanta Real Estate Market?

Thom Abbott

It’s Tax Season ..Use Your Refund to Jump Start Your Down Payment Savings!

It’s Tax Season Jump Start Your Down Payment

If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?

Bottom Line – – It’s Tax Season Jump Start Your Down Payment

Thom Abbott

Featured Listing 860 Peachtree Street NE # 1506 Atlanta GA 30308

Featured Listing 860 Peachtree Street, #1506 Atlanta, GA 30308 (MLS# 5955966)

To schedule a private showing of this home, contact me! I’m always just a call or click away!

860 Peachtree Street, NE, #1506 Atlanta, GA 30308 (MLS#5955966)

$269,900.00

Interested in this home? Do you want to schedule a showing?

Just CLICK HERE TO CALL ME!

Listing provided by Palmer House Properties

Learn MORE about Living In Midtown Atlanta HERE!

Thom Abbott

New Boutique Condo Building Proposed on 12th Street

Thom Abbott

North American Properties Mark Toro

Thom Abbott

Monthly Debt and Obligations Should Include:

Thom Abbott

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